How Ewa highway impact fees are held and spent

(a) The department of budget and fiscal services shall create a special trust fund, or interest-bearing account in the general trust fund or other appropriate fund, which shall serve as the exclusive depository of all funds collected as Ewa highway master plan impact fees pursuant to this chapter. (b) All funds collected as Ewa highway master plan impact fees shall promptly be deposited into and held in the special trust fund or account until expended or encumbered pursuant to this chapter. All interest earnings on the balances in the special trust fund or account shall be retained and used for the same purposes as Ewa highway master plan impact fees. (c) All funds deposited into the special trust fund or account are to be used exclusively for traffic and roadway improvements set out and contained in the Year 2010 highway improvement plan contained in the Ewa highway master plan, as that plan may be amended, and not for any other purpose, except that the city shall receive 2 percent of all funds deposited, deducted upon deposit, as reimbursement for the cost of administering this chapter. (d) Funds collected as Ewa highway master plan impact fees shall be made available to either the State for State highway or traffic improvements, or the city for city highway or traffic improvements, provided that the improvements are contained in the Year 2010 highway improvement plan contained in the Ewa highway master plan.